Citylabs Co.,Ltd. announced that it expects to receive KRW 9.999999633 billion in funding from Optrontech Co., Ltd., Daol Global Co., Ltd.
September 30, 2022
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Citylabs Co.,Ltd. . announced that it will issue 17,889,087 shares at an issue price of KRW 559 per share for gross proceeds of KRW 9,999,999,633 on September 30, 2022. The company will issue shares through third party allocation increase.
The payment date for shares is November 28, 2022. The transaction has been approved by board of directors of the company. The total number of shares issued prior to transaction are 17,889,087 shares.
BFLabs Co Ltd, formerly CityLabs Co Ltd, is a Korea-based company mainly engaged in the provision of intelligent transportation system (ITS) solutions. The Company's ITS construction service business and closed circuit television (CCTV) integrated control center business include advanced traffic signal control systems, automatic enforcement systems, road traffic management systems, driver information systems, optimal route guidance systems, travel service information systems, public transportation information provision and public transportation management systems, electronic security systems, common check-in systems, safety security systems, maritime traffic control system establishment, and air traffic control system establishment. The Company combines all of these to conduct smart city construction business. It also engages in multilayer glass production facility manufacturing industry, healthcare media, digital marketing and social networks, and hosting domain services.
BFLABS CO.,LTD. 
